EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

Computation of Ratios of Earnings to Fixed Charges

(dollars in thousands)

 

Ratio of Earnings to Fixed Charges:

 

     For the Year Ended December 31,
     2000
    2001
    2002
     2003
    2004

Interest expense

    $ 2,092    $ 2,319    $ 10,322     $ 14,849    $ 16,587

Capitalized interest

      —        —        —         —        —  

Amortization of premiums, discounts and capitalized expenses related to indebtedness

      310      185      1,031       2,375      2,032

Estimated interest portion of rental expense

      7,286      6,961      7,378       9,518      9,653
    
  
  
 
  

Fixed charges

    $ 9,688    $ 9,465    $ 18,731     $ 26,742    $ 28,272
    
  
  
 
  

Income (loss) before income taxes

    $ 70,496    $ 38,871    $ (18,617 )   $ 1,129    $ 28,944

Fixed charges

      9,688      9,465      18,731       26,742      28,272

Less: interest charges capitalized

      0      0      0       0      0

Amortization of capitalized interest

      0      0      0       0      0
    
  
  
 
  

Earnings (loss)

    $ 80,184    $ 48,336    $ 114     $ 27,871    $ 57,216
    
  
  
 
  

Ratio of earnings to fixed charges

      8.28x      5.11x      *       1.04x      2.02x
* Earnings were insufficient to cover fixed charges by $18,617 for the year ended December 31, 2002